Manegerial remeneration

vimal (Querist) 10 April 2013 This query is : Resolved
Penal provisions/ consequenses of paying Manegerial Remeneration to directors in excess of limits prescribed under sec 198/309/310 of Companies Act, 1956?

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Sudhir Kumar, Advocate (Expert) 10 April 2013
you already know the sections of Company Law.

Devajyoti Barman (Expert) 10 April 2013
Refer law book.

prabhakar singh (Expert) 10 April 2013
But what is the query?

No tuition is taken here.

vimal (Querist) 11 April 2013
Query is:

If I pay Salary to Director which is more than the limit specified under section-198, then what are the penal provision?

Another thing: If i am paying more than 5%/10% to director the only thing is that he will have to refund the the exess amount then anybody can take the benefit of this section?

The only thing I want to know is PENAL PROVISIONS??

Hope now the query is clear..

Raj Kumar Makkad (Expert) 19 April 2013
penal provisions are already been mentioned under the same sections.

vimal (Querist) 20 April 2013
Which Section Sir? I dint find any penal provision in this section..

Devajyoti Barman (Expert) 20 April 2013
Academic query.....

vimal (Querist) 20 April 2013
Yes Sir...

prabhakar singh (Expert) 20 April 2013
Your query is still incomplete and lack facts to be stated as to of what category the company is?

vimal (Querist) 20 April 2013
The Company is Public Company...As the setion is not applicable to Pvt Ltd Co.

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